Nifty-Technical View For-8-1-2015

NIFTY CLOSED AT 8102.10 ON 7-1-2015

SUPPORT: - 8075 / 8049 / 7961.35 / 7840 / 7808 / 7723.85 7664 & 7540.

 RESISTANCE:- 8118 / 8147.95 / 8160 / 8180 / 8272.80 / 8282.70 / 8364.75 / 8445.60 / 8470 / 8535.35 / 8626.95 ..

(Figures in bold are important)

Nifty opened on a negative note at 8118.65 and made a high for the day at 8151.20 and low of 8065.45 before closing the day at 8102.10. It showed no sign of recovery today and closed the day 25.25 points lower which speaks of how weak it is. Technical parameter indicates that down correction may deepen and it may give reasonable to significant fall in coming days, however in between short up rally cannot be ruled out. Please note that if it fails to hold the level of 8049 then it will break the recent bottom of 7961.35 it made on 17-12-2014 chances of which are looking great. I would therefore advice to avoid long call completely till it moves above 8291 and stays or give potential indication of correction completion. As of now it is sell on the rise market, so try short call on the rise with a proper stop loss or below 8065 with a stop loss of above 8095 on 8-1-15 and below 8214.70 with a stop loss of above 8230 for the entire remaining week. Going up it will face resistance at 8160 / 8180 &8220 and moving down it will have support at 8075 / 8049 & 7961. 

It is important to mention here that it is very close to its long term moving averages and the range for it is between 8024—7625(it changes every day),if it breaks even the upper band of the range i.e 8024 that will be the first sign of threat to the long term up trend  and if it moves below 7625 mark and stays then the up trend would be in real danger, So if the up trend has to continue then it cannot remain even below 8024 mark for a longer period therefore one should start building position in a staggered manner as soon as nifty falls within this range with a stop loss below 7450.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:-  :- Long term up trend is still intact. It is in correction mode now, therefore long call is completely ruled out till it gives visible sign of correction completion. As of now it sell on the rise market, so try short call on the rise and below 8214.70 for the entire remaining week with a proper stop loss as mentioned above. 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

CNX-Bank Index-Technical View For-8-1-2015

CNX-Bank Index closed at 18304.25 on 7-1-2015

SUPPORT: - 18137 / 18051 / 17968 / 17890 / 17546 / 17502.

RESISTANCE: - 18334 / 18428.10 / 18676.10 / 18728.20 / 18736.75 / 18875.45 / 18923.60 / 19166.

(Figures in bold are important)

Index opened on a negative note at 18382.55 and made a high of 18482.05 for the day and a low of 18211.50 before closing the day at 18304.25.After yesterday’s huge fall it showed no sign of recovery today and closed 126.50 points lower which indicate weakness in it and pointing towards further fall in coming days, please note that If it fails to hold 18137 & 17895 level then it may break the recent bottom of 17502.45 it made on 17-12-2014,chances of which are looking reasonably good at this point of time,however in between short up rally could be there. I would therefore advice to avoid long call completely till it moves above 18740 and stays or it gives enough indication of correction completion. As of now it is sell on the rise market, so try short call on the rise at appropriate level with a proper stop loss and existing short position can  be held on to  below 18428.10 with a stop loss of above 18485 for the entire remaining week for a target of 18130 & 17900. Going up it will resistance at 18590 & 18740 and moving down it will have support at 18137 & 17895.

 Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:-  :- Long term up trend is still intact. It is in correction mode now, therefore long call is completely ruled out till it gives visible sign of correction completion. As of now it sell on the rise market, so try short call on the rise and hold existing short call below 18428.10 for the entire remaining week with a proper stop loss as mentioned above. 

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

BSE-Sensex-Technical View For-8-1-2015

BSE- Sensex  closed at 26908.82 on 7-1-2015

SUPPORT: - 26845 / 26469.42 / 26220 / 25910.77 / 25460 / 25232.

RESISTANCE: - 27092 / 27257 / 27355 / 27485 / 27500 / 27851.10 /28064.49.

 (Figures in bold are important)

Sensex opened on a flat to negative note at 26983.43 and made a high of 27051.60 for the day and then made a low of 26776.12 before closing the day at 26908.82.After a huge fall of yesterday ,It showed no sign of recovery today and closed 78.64 points lower this indicates gross weakness in it and points towards deep correction in the offing in coming days ,however in between short up rally cannot be ruled out but the bias is down as of now. Please note that if it breaks again the 26845 mark and stays then it can break the recent bottom of 26469 it made on 17-12-15, furthermore some other technical parameter pointing towards breaking of 26108 level too if weakness persist, chances of breaking the aforesaid level is looking distinctly possible. I would therefore advice to avoid long call completely till it moves above 27500 and stays or give visible indication of correction completion. As of now it sell on the rise market, so try short call on the rise with a proper stop loss or below 26845 with a stop loss of above 26920 on 8-1-2015 and below 27266.49 with a stop loss of above 27300 for the entire remaining week. Going up it will face resistance at 27270 & 27500  and  moving down it will have support at 26845 & 26469.

It is important to mention here that it is pretty close to it long term moving averages and the range for it is between 26817—25501(it changes every day),if it breaks even the upper band of the range i.e 26804 that will be the first sign of threat to the long term up trend  and if it moves below 25476 mark and stays then the up- trend would be in real danger. It did break the upper band today but bounced back and closed above it. So if the up- trend has to continue then it cannot remain even below the upper band of the averages for a longer period therefore one should start building long position in a staggered manner as soon as sensex falls within this range with a stop loss of below 25200.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:-  :- Long term up trend is still intact. But it is in correction mode now, therefore long call is completely ruled out till it gives visible sign of correction completion. As of now it sell on the rise market, so try short call on the rise and below 27266.40 for the entire remaining week with a proper stop loss as mentioned above. 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

Trading Calls For-7-1-2015

Nifty-Technical View For-7-1-2015

NIFTY CLOSED AT 8127.35 ON 6-1-2015

SUPPORT: - 8118 / 8049 / 7961.35 / 7840 / 7808 / 7723.85 7664 & 7540.

 RESISTANCE:- 8147.95 / 8160 / 8180 / 8272.80 / 8282.70 / 8364.75 / 8470 / 8535.35 / 8626.95 ..

(Figures in bold are important)

Nifty opened with a gap down at 8325.30 and made a high of 8327.85 and thereafter it relentlessly went down and made a low of 8111.35 before closing the day near the low at 8127.35, down by more than 250 points. Today’s fall was devastating and it has broken the on going momentum for sure, it has also broken its all short term moving averages decisively which is a bad sign, furthermore some technical parameter suggest that it may be heading for much lower level in coming days and will break the recent bottom of 7961.35 for sure , therefore long call should be  completely avoided till it moves above 8291 and stays or give ample indication of correction completion .I would therefore suggest to try short call on the rise with a stop loss of above 8291,one can try short call below 8111.35 also with a stop loss of 8135 for a target of 8049 & 7950 on 7-1-2015 and below 8214.70 with a stop loss of above 8230 for the entire remaining week ending on 9-1-15.

It is important to mention here that it is pretty close to it long term moving averages and the range for it is between 8020—7617(it changes every day),if it breaks even the upper band of the range i.e 8020 that will be the first sign of threat to the long term up trend  and if it moves below 7617 mark and stays then the up trend would be in real danger, So if the up trend has to continue then it cannot remain even below 8020 mark for a longer period therefore one should start building position in a staggered manner as soon as nifty falls within this range with a stop loss below 7400.

REMARK:-  :- Long term up trend is still intact. Today’s move has broken the on going momentum therefore long trade is completely ruled out till bottom formation sign emerges, instead short call should be tried  on the rise  or below 8111 on 7-1-15 and below 8214.70 for the entire remaining week with a proper stop loss as mentioned above. 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

BSE-Sensex-Technical View For-7-1-2015

BSE-Sensex  closed at 26987.46on 6-1-2015

SUPPORT: - 26845 / 26469.42 / 26220 / 25910.77 / 25460 / 25232.

RESISTANCE: - 27092 / 27257 / 27355 / 27485 / 27500 / 27851.10 /28064.49.

 (Figures in bold are important)

Sensex opened with a gap down at 27694.23 and made a high of 27698.93 and thereafter it relentlessly went down and made a low of 26937.06 before closing the day near the low at 26987.46.It went down by a whopping more than 850 points on closing basis, the  fall was devastating and it has broken the on -going momentum for sure, it has also broken its all short term moving averages decisively which is a bad sign, furthermore some technical parameter suggest that it may be heading for much lower level in coming days and will break the recent bottom of 26469.42 for sure , therefore long call should be  completely avoided till it moves above 27500 and stays or give ample indication of correction completion .I would therefore suggest to try short call on the rise with a stop loss of above 27500,one can try short call below 26930 also with a stop loss of 27000 for a target of 26845 & 26469.42 on 7-1-2015 and below 27266.49 with a stop loss of above 27300 for the entire remaining week ending on 9-1-15.

It is important to mention here that it is pretty close to it long term moving averages and the range for it is between 26804—25476(it changes every day),if it breaks even the upper band of the range i.e 26804 that will be the first sign of threat to the long term up trend  and if it moves below 25476 mark and stays then the up- trend would be in real danger, So if the up- trend has to continue then it cannot remain even below 26804 mark for a longer period therefore one should start building long position in a staggered manner as soon as sensex falls within this range with a stop loss below 25100.

REMARK:-  :- Long term up trend is still intact. Today’s move has broken the on- going momentum therefore long trade is completely ruled out till bottom formation sign emerges, instead short call should be tried  on the rise  or below 26930 on 7-1-15 and below 27266.49 for the entire remaining week with a proper stop loss as mentioned above. 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

CNX-Bank Index-Technical View For---7-1-2015

CNX-Bank Index closed at 18430.75 on 6-1-2015

SUPPORT: - 18428.10 / 18334 / 18137 / 18051 / 17968 / 17890 / 17546 / 17502.

RESISTANCE: - 18676.10 / 18728.20 / 18736.75 / 18875.45 / 18923.60 / 19166.

(Figures in bold are important)

Index opened with a 113.10 point gap down at 18874.60 and the open was the high also and thereafter it went down sharply and made a low of 18388.35 before closing the day at 18430.75. Today it went down by a whopping  586.65 points  putting a break on the on -going momentum and this down correction may deepen in coming days ,therefore long trade should be completely avoided till it moves above 18740 and stays  or it gives ample indication of correction completion .I would therefore suggest to try short call on the rise with a stop loss of above 18740,one can try short call below 18428 also for the remaining week  with a stop loss of above 18450 for a target of 18130 & 17900.

 REMARK:-  :- Long term up trend is still intact. Today’s move has broken the on -going momentum therefore long trade is completely ruled out till bottom formation sign emerges, instead short call should be tried  on the rise  or below 18428 for the  remaining week with a proper stop loss as mentioned above. 

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

BSE-Sensex-Technical View For-6-1-2015

BSE-Sensex  closed at 27842.32on 5-1-2015

SUPPORT: -  27739 / 27485 / 27354 / 27247 / 27091.

RESISTANCE: - 27851.10 / 27888 / 27937.47 / 27978.43 / 28267.08 / 28369 / 28542 / 28823 / 29130.

 (Figures in bold are important)

Sensex opened on a positive note at 27978.43 and made a high of 28064.49 and then went  down  and made a low of 27786.85 before closing the day  at 27842.32.It encountered some profit booking today but it closed below certain important level also , therefore now fresh long position should only be taken if it moves above 27940 and stays with a stop loss of below 27850 for a target of 28200. The existing long call can still be held on to but avoid fresh long call and get alerted in long position below 27850 & 27739 and exit trade if it closes below 27475. Going up it will face resistance at 27980 / 28065/ 28270 & 28542 and moving down it will have support at 27739 & 27485.The bias is up as of now.

 REMARK:-  :- Long term up trend is intact .Hold existing long position  but add fresh long position only if it stays  above 27940 with proper stop losses as mentioned above.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

CNX-Bank Index-Technical View For-6-1-2015

CNX-Bank Index closed at 19017.40 on 5-1-2015

SUPPORT: - 18923.60 / 18875.45 / 18736.65 / 18728.20 / 18428.10 & 18301.

RESISTANCE: - 19118.85 / 19260 / 19720 / 19770 / 20565.

(Figures in bold are important)

Index opened on a new all time high at 19155.20 and made further high of 19166 and then moved down and made a low of 18987 before closing the day near the low at 19017.40.It encountered some profit booking today but technically it is still looking good, but now fresh long call should only be tried if it moves above either 19060 or 19160 and stays for some time with a stop loss of below 18900 & 18980 respectively for a target of 19260 & 19400. The existing long call can be held on to but get alerted in long position below 18900 and exit trade if it closes below 18700.Going up it will face resistance at 19260 / 19720 & 19770 and moving down it will have support at 18923 / 18728 & 18428.The bias is up now.

REMARK:-  :- Long term up trend is intact .Hold existing long position  but add fresh long position only if it stays  above 19160 with proper stop losses as mentioned above.

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

Nifty-Technical View For--6-1-2015

NIFTY CLOSED AT 8378.40 ON 5-1-2015

SUPPORT: - 8364.75 / 8282.70 / 8272.80 / 8160 / 8147.95.  

 RESISTANCE:- 8395.45 / 8411 / 8470 / 8535.35 / 8626.95 / 8720 / 9050.

(Figures in bold are important)

Nifty opened on a positive note at 8407.95 and made a high of 8445.60 and then slipped  down  and made a low of 8363.90 before closing the day near the lower band at 8378.40.It closed 17 points lower today because  of profit booking at higher level but it closed below certain important level also , therefore now fresh long position should only be taken if it moves above 8411 and stays with a stop loss of below 8380 for a target of 8470. The existing long call can still be held on to but get alerted in long position below 8360 and exit trade if it closes below 8265.Going up it will face resistance at 8470 / 8587 & 8627 and moving down it will have support at 8364.75 & 8270.The bias is up now.

REMARK:-  :- Long term up trend is intact .Hold existing long position  but add fresh long position only if it stays  above 8411 with proper stop losses as mentioned above.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

Trading Calls For-5-1-2015

BSE-Sensex-Technical View For-5-1-15

BSE-Sensex  closed at 27887.90on 2-1-2015

SUPPORT: - 27851 / 27739 / 27485 / 27354 / 27247 / 27091.

RESISTANCE: - 27937.47 / 28267.08 / 28369 / 28542 / 28823 / 29130.

 (Figures in bold are important)

Sensex opened on a flat to positive note at 27521.28 and made a low of 27519.26 and then moved up and made a high of 27937.47 before closing the day at 27887.90.It gave good up move today and technically also looking O.K, therefore fresh long call can be taken above 27940 with a stop loss of below 27850 for a target of 28200.I Would suggest to hold the existing long call now but get alerted and avoid fresh long position below 27850 & 27739 and exit long position if it closes below 27475. Going up it will face resistance at 27940 / 28270 & 28542 and moving down it will have support at 27739 & 27485.The bias is up now.

REMARK:-  :- Long term up trend is intact .Hold existing long position and can add fresh long position above 27940 with proper stop losses as mentioned above.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

CNX-Bank Index-Technical View For-5-1-2015

CNX-Bank Index closed at 19057.80 on 2-1-2015

SUPPORT: - 18923.60 / 18875.45 / 18736.65 / 18728.20 / 18428.10 & 18301.

RESISTANCE: - 19118.85 / 19260 / 19720 / 19770 / 20565.

(Figures in bold are important)

Index opened on a flat to positive note at 18752.20 and the open was the low also and thereafter it moved up steadily and made new all time high of 19118.85 before closing the day at 19057.80.It is exhibiting tremendous strength and technically also looking extremely good. Therefore fresh long call can be taken above 19120 with a stop loss of below 18900 for a target of 19260 & 19400.The existing long call should be held on to but get alerted in long position below 18900 and exit trade if it closes below 18700.Going up it will face resistance at 19260 / 19720 & 19770 and moving down it will have support at 18923 / 18728 & 18428.The bias is up now.

REMARK:-  :- Long term up trend is intact .Hold existing long position and can add fresh long position above 19120 with proper stop losses as mentioned above.

 Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

Nifty-Technical View For-5-1-2015

NIFTY CLOSED AT 8395.45 ON 2-1-2015

SUPPORT: - 8364.75 / 8282.70 / 8272.80 / 8160 / 8147.95.  

 RESISTANCE:- 8470 / 8535.35 / 8626.95 / 8720 / 9050.

(Figures in bold are important)

Nifty opened on a flat to positive note at 8288.70 and the open was the low also and thereafter it moved up steadily and made a high of 8410.60 before closing the day at 8395.45.It gave a robust move today and technically also looking good ,so fresh long call can be taken above 8411 with a stop loss of below 8350 for a target of 8470 & 8540.The existing long call should be held on to but get alerted in long position below 8360 and exit trade if it closes below 8265.Going up it will face resistance at 8470 / 8587 & 8627 and moving down it will have support at 8364.75 & 8270.The bias is up now.

REMARK:-  :- Long term up trend is intact .Hold existing long position and can add fresh long position above 8411 with proper stop losses as mentioned above.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

BSE-Sensex-Technical View For-1-1-2015

BSE-Sensex  closed at 27499.42on 31-12-2014

SUPPORT: - 27372 / 27324 / 27160 / 26997/ 26795 / 26469.

RESISTANCE: - 27526 / 27646 / 27740 / 27851.10 / 27924 / 27980 / 28268 / 28823.

(Figures in bold are important)

Sensex opened on a weak note at 27358.30 and made a low of 27346 and thereafter moved up and made a high of 27527.24 before closing the day at 27499.42.It ended the 2014 on a reasonable note.One can try fresh long call if it moves above 27572 and stay with a stop loss of below 27490 for a target of 27672 & 27851. Those who are still holding long position should avoid fresh long if it consistently starts trading below 27490 and get alerted in long position below 27390 and exit trade if it moves below 27300 and stays. Please avoid long call below 27090 for sure. Going up it will have resistance at 27561 / 27672 / 27740 /27852 / 27925 & 28268 and moving down it will find support at 27354 / 27256 / 27160 & 27090.

REMARK:-  :- Long term up trend is intact .One can try long call  above 27572 with a stop loss of  below 27490.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

Trading Calls For-1-1-2015

Nifty-Technical view For---1-1-15

NIFTY CLOSED AT 8282.70 ON 31-12-14

SUPPORT: - 8270 / 8216 / 8180 / 8160.90 / 8147 / 8115 / 8056 / 7961.35 / 7949 / 7936 / 7856 / 7819 / 7723.85 / 7540 / 7422.15.

 RESISTANCE:-   8290.25 / 8364.75 / 8468 / 8535.35 / 8627.

(Figures in bold are important)

Nifty opened on a flat note at 8243.90 and made a low of 8243.75 and then made a high of 8291 before closing the day near the high at 8282.70.It ended the year 2014 on a firm note. One can go fresh long if it moves above 8291 and stays with a stop loss of below 8260 and can add further long position above 8314 with a stop loss of below 8275 for a target of 8373.Those who are still holding long position should avoid fresh long if it consistently starts trading below 8280 and get alerted in long position below 8250 and exit trade if it moves below 8200 and stays. Please avoid long call below 8147 for sure. Going up it will face resistance at 8314 / 8324 / 8372 / 8468 / 8535.35 & 8627 and moving down it will have support at 8180 / 8160 / 8147 / 8115 & 8051.

REMARK:-  :- Long term up trend is intact .Long call can be tried above 8280 with a stop loss of below 8260.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.